Business/Alive News: The Indian stock market closed in the red on Wednesday, October 28, 2026, as rising crude oil prices weighed on investor sentiment and triggered selling in energy and information technology (IT) shares.
The 30-share BSE Sensex fell 352 points to close at 73,246, while the NSE Nifty 50 slipped below the 22,700 mark to end at 22,698.
Crude Oil Prices Near $116 per Barrel
Rising crude oil prices remained a major concern for investors. Brent crude, the global oil benchmark, climbed to nearly $116 per barrel, approaching the reported high of $120 during the US-Iran conflict.
Higher oil prices can increase costs for Indian companies and put pressure on inflation, raising concerns among market participants.
Jio Platforms Shares Make Strong Debut
Reliance Jio Platforms shares made a strong stock market debut, listing on the NSE at ₹1,358 per share, around 21% above the IPO issue price of ₹1,119.
Asian Markets Trade Higher
Asian markets recorded gains on Wednesday. South Korea’s KOSPI rose 5.74% to 5,963, Japan’s Nikkei gained 1.26% to 64,067, and Hong Kong’s Hang Seng advanced 0.16% to 23,092.
US markets had also closed higher on October 27. The Nasdaq gained 1.18% to 26,478, the S&P 500 rose 0.60% to 7,723, and the Dow Jones edged up 0.03% to 52,378.
Foreign Investors Continue Selling
Foreign institutional and portfolio investors recorded net selling of approximately ₹68,817 crore over the past 30 days, according to the figures provided. In contrast, domestic institutional investors recorded net buying of ₹78,694 crore during the same period.
The figures highlight continued foreign investor selling, partly offset by domestic institutional buying.
The market had posted marginal gains on October 27 before declining in the following session.
